Thread by @YanQinyq

🚨China Energy policy in 2022

👇This long and extensive 10000-word full page Opinion piece in People’s Daily definitely set the tone for the year and maybe 14FYP (to 2025)

“Energy rice bowl must be in one’s own hands”

opinion.people.com.cn/n1/2022/0107/c…

This Opinion on “Pushing forward China energy high quality growth in new era” definitely shed light on policy focus in the upcoming Energy sector’s 14FYP & Carbon peak action plan ✍️

It also mirrors policy signal from Central Economic Workimg Conference.

“The rice bowl of energy must be in their own hands", which is a profound summary of historical experience, is a profound insight into the reality, but also a profound indication of the future.” ➡️

“Based on domestic diversified supply to ensure security, vigorously promote the clean and efficient use of coal, focus on development of non-coal energy, formation of coal,oil,gas, nuclear,new energy,renewable energy multi-wheel drive energy supply system”🔄

Coal:

"…as the main energy source in China, …towards the goal of carbon peak and neutrality, based on national conditions, control total amount, pocket bottom line, orderly reduction and replacement, promote coal consumption transformation and upgrading”

High quality growth:

In particular, as a large manufacturing country, whether China's real economy (represented by the manufacturing sector) can achieve the leap from big to strong, depends on the overall situation of high-quality economic development.

Must seize the "bull's nose" of adjusting energy structure, vigorously enhance energy supply quality, support high-quality development with lower energy cons. &emissions, support systematic changes in economy and society with profound changes in energy sector

Energy activities account for high share of national emissions.
Energy development is linked to construction of material and ecological civilization, we must cross the 'energy transformation' hurdle to achieve comprehensive green transformation

"Four Revolutions, One Cooperation"

This new strategy for energy security by Xi specifies the direction and path for safeguarding China's energy security and promoting the high-quality development of China's energy from a global and strategic perspective.

Adhere to systematic concept, handle multi-dimensional relationships:

development vs emission reduction
carbon reduction vs security
overall vs local
short-/medium- /long-term
standing vs breaking
government vs market
domestic vs international, etc.

Ensuring energy security is the primary task of energy development

Keep a firm grip on the bottom line of energy security.
It should be recognised that security is a prerequisite for development and development is a guarantee for security.

Enhance domestic resource production capacity, Accelerate development and application of advanced exploitation technology for oil and gas resources etc;

Clarify the strategic bottom line of self-sufficiency in domestic production of key energy resources

From the perspective of energy security, the energy system will face huge changes.

in the short term, it will need to bear some pain from transformation, but in the long term, carbon peak and neutrality is a strategic choice to ensure China's energy security

Markets:
To better secure the rice bowl of energy, we must deepen the reform of energy and related fields, and adhere to the two-handed efforts of market & government.
To give full play to the decisive role of the market in the allocation of energy resources

'Only by building a clean, low-carbon, safe and efficient energy supply system in a steady and orderly manner can we achieve deep decarbonisation and intrinsic security in the energy sector'